For my test of the Fryx Finance platform, I deliberately tested it as an unregistered user, because I rarely want to register for an instant exchange. If I do want to, I can just use a regular exchange like Binance or any other that offers XMR pairs.

First impression:



Short domain name ending with .finance, which is common for instant exchanges or other DeFi applications. Of course not yet as widely used as .com domains, but certainly fine here. Simple black website design, easy to understand (very cool logo! Looks nice! Thumbs up!). Even as a crypto beginner, you can see at first glance that this is a Monero/Bitcoin instant exchange. The instructions are understandably clear: you only need a Monero & Bitcoin address and you can start converting your coins right away.

I guess there is no KYC? If that's correct, let the user know that you won't KYC them.

Main menu and overview:

The main menu is clear, but provides very little information. Instructions on how to use the platform are completely missing. There is no FAQ page. There is also no reference to the support to which one could contact in case of problems. In addition, there are no pages like ToS, Disclaimer, About Us, Privacy Policy, etc.

While the latter can be tolerated, I consider the lack of a FAQ and the lack of support to be absolutely crucial for a working instant exchange. I mean: there are so many shady services out there and there is enormous competition in the market for instant exchanges. Very few users are likely to use a platform that does not provide basic information on how to use it or in case of problems. I mean would you deposit more than a few bucks to a website that's likely not going to offer any help, if something goes wrong with the transaction? I wouldn't tbh.

That's why it would be nice if at least a support email and a short FAQ about the process of a transaction on Fryx could be added here. In terms of the time required for these updates, this is certainly within manageable limits.

Transaction/Process:

After you have entered your BTC and XMR addresses, you will get to the following transaction screen. Here you get a deposit address and a loading screen.



The overall look is very simple and provides very little information here as well. In my opinion, the following points are missing or could be improved:

• How many confirmations are needed? Let the the user know before depositing, in case they don't have unlimited time. There is a difference if its 1 or 6 confirmations.
• What is the conversion rate? And how is it made up? Are you cheaper than other exchanges? If so, let the user know and provide a comparison to live prices on other exchanges, if applicable. Also it says "approximately", will the user get 2 XMR in the transaction or will he get less, if the rate changes? In other words, is the rate fixed for some minutes? Or can I get unlucky and get way less, if the price changes?
• How high are the fees in general and how high are the fees deducted for this particular transaction?
• What happens if the transaction fails or there is a bug with the website/plattform? No information, no hints that there is a support or what to do, if something goes wrong.
• What happens if I accidentally close my browser as an unregistered user? Is my uncompleted transaction then lost forever? I guess you can open the browser link again, and it works, but you need to let users know about that! Give them more information!
• What happens, if my transaction doesn't go through within a certain timeframe? What happens if its stuck in the mempool for weeks/months? Will there be a refund? Will the conversation rate change (I guess so)? Same here, more infos are needed.
• Is there a maximum users can deposit/convert? I only see about minimums, no maximums.

Speed:


I would like to agree with @LoyceV here. I am using other faster competitors frequently and even some regular exchanges that don't KYC take only 2 confirmations until my funds are deposited. I mean: If I use a simple instant-exchange, it needs to be fast. 

Conclusion

In summary: Good simple website with still a lot room to improve - especially when it comes to communication with the user.

Instant exchanges in particular are all about a clean overall picture, and this is achieved by giving the user enough information how the service works. It is not enough to write clean code and create a functioning exchange (btw you can buy the backend for a working instant exchange for a few hundred bucks on fiverr).

If you want a working product in the end that actually generates money through fees, you have to actively convince the user that your service is the best and easiest to use. And here, hopefully, you are still working on it and improving your platform. Then I am sure that with a strong Bitcointalk community behind you, you can become a good place for BTC XMR trades. Good luck!